MARKET PULSE-Bank of America, GM, ExOne, Tesla, Datalink, Nuvasive

Reuters Staff

8 Min Read

(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock index futures were slightly higher on Wednesday, indicating the S&P 500 will build on its biggest gain in nearly a month, after earnings from Bank of America and ahead of data on inflation and manufacturing. Dow Jones industrial average futures were up 0.21 percent at 16,334, S&P 500 futures were up 0.21 percent at 1,836.7 and Nasdaq 100 futures were up 0.43 percent at 3,589.

** BANK OF AMERICA CORP, Tuesday close $16.77, +2.77 pct premarket

The second-largest U.S. bank reported a stronger-than-expected quarterly profit, driven by a steep fall in mortgage losses and provisions to cover bad loans.

** GENERAL MOTORS CO, Tuesday close $40.02, -1.30 pct premarket

The No. 1 U.S. automaker’s new executive team expects a slight uptick in pretax profits this year, but said margins likely will remain flat until 2015. A new management team led by Chief Executive Mary Barra and President Dan Ammann took the reins Wednesday, issuing a cautious outlook for the year ahead at a Deutsche Bank auto analyst conference.

The company said on Tuesday it would pay the first quarterly dividend on its common stock in almost six years, marking another step in its recovery from the bankruptcy in 2009.

** EXONE CO, Tuesday close $62.26, -12.58 pct premarket

Brokerage Janney Capital Markets cut its price target on the 3D printer maker’s stock to $68 from $75 due to a delay in shipping of printers to customers in Russia, France, Mexico and India. Janney also lowered its revenue estimates for ExOne.

** TESLA MOTORS INC, Tuesday close $161.27, +6.13 pct premarket

Bank of America Merrill Lynch raised its price target on the electric car maker’s stock to $65 from $45 after the company said on Tuesday deliveries of its Model S sedan in the fourth quarter blew past the company’s forecast. Tesla’s shares rose nearly 16 percent on Tuesday.

** DATALINK CORP, Tuesday close $10.87, +27.69 pct premarket

The company, which manages servers and networks, raised its fourth-quarter adjusted earnings forecast on Tuesday. It now expects adjusted earnings of 33-37 cents per share, up from 24-30 cents it had forecast earlier. The company also raised its revenue forecast to about $174 million, up from its earlier range of $160-$170 million.

** NUVASIVE INC Tuesday close $33.78, +10.27 pct premarket

The company, which makes medical devices for spine surgery, reported preliminary fourth-quarter revenue of about $189 million, ahead of analysts’ average estimate of $176.4 million. Nuvasive also said it expected full-year revenue of about $683 million. Analysts were expecting $670.6 million, according to Thomson Reuters I/B/E/S.

** HANWHA SOLARONE CO LTD, Tuesday close $3.14, +6.05 pct premarket

The solar panel maker said it plans to set up a venture with Shanghai HuiTianRan Investment Holding Group to develop solar power plants in China. HuiTianRan will use panels manufactured by Hanwha SolarOne in its 700 megawatts (MW) of projects or select Hanwha SolarOne to provide engineering, procurement and construction services for these projects, Hanwha SolarOne said in a statement.

** AEROPOSTALE INC, Tuesday close $7.73, +6.08 pct premarket

The apparel retailer under pressure from investors to sell itself reached out to at least two private equity firms as it explores strategic options, Bloomberg said on Tuesday, citing sources.

** ENPHASE ENERGY INC, Tuesday close $7.87, +4.32 pct premarket

The microinverter maker said fourth-quarter revenue was likely to be in the range of $66-$67 million, higher than its previous forecast of $62-$65 million, helped by higher demand from the residential solar market in the United States. "During the fourth quarter, shipments exceeded 100 megawatts of microinverter systems for the first time," Chief Executive Paul Nahi said. Enphase will report results for the fourth quarter in late February. (r.reuters.com/nur95v)

The semiconductor company raised its quarterly dividend to 27 cents per share from 26 cents, and said it expects revenue in the third quarter to rise 3 to 6 percent from the second quarter. B. Riley raised its price target on the stock to $44 from $38.

A U.S. appeals court on Tuesday rejected federal rules that required Internet providers to treat all web traffic equally, a decision that could allow mobile carriers and other broadband providers to charge content providers for faster access to websites and services.

** INTEL CORP, Tuesday close $26.51, +1.13 pct premarket

The chipmaker, hit by slumping personal computer sales, has put off opening a major chip factory that President Barack Obama once held up as an example of U.S. manufacturing potential.

** ELBIT SYSTEMS, Tuesday close $61.46, -0.94 pct premarket

The Israeli defense electronics company said it won a contract from the Ministry of Defense worth about $15 million to upgrade the Israeli air force’s C-130H Hercules transport aircraft. The contract will be carried out over two years, Elbit said in a statement.

** ENERSIS SA , Tuesday close $14.86, +6.73 pct after market

The Chilean energy company plans to offer to buy the shares of its Brazilian unit, Companhia Energetica do Ceara COCE5.SA, it does not already own in a deal it said would be worth around $645 million.

The medical device maker said it expected to report fourth-quarter revenue of about $53 million, below estimate of $58 million, according to Thomson Reuters I/B/E/S. Heartware, which makes implantable heart pumps, also said revenue would grow 87 percent to $208 million in 2013. Analysts were expecting $213.3 million.

** VISTEON CORP, Tuesday close $87.61

The auto parts maker said it expected 2014 revenue of $7.8 billion, lower than average analyst estimate of $8.1 billion.

** REX ENERGY CORP, Tuesday close $17.82

The oil and gas producer said output this year could be 143-149 million cubic feet equivalent (mmcfe) per day, higher than 92.7 mmcfe per day it produced in 2013. Rex Energy also increased its capital budget for 2014 from a year earlier. Fourth-quarter production at the company rose 49 percent to 110.4 mmcfe per day, said Rex Energy, which is scheduled to report fourth-quarter results on Feb. 19. (Compiled by Varun Aggarwal in Bangalore; Edited by Don Sebastian)